The evening world., 1887-10-10
DIVIDENDS FOR CLERKS.


SO~0RBH&kAon IN - OA44SD - S8h4S - t48
|N'y Wall Street Brokers. sgrmf
II IL only within q few years past that tho
principal of cooperation has been carried
into the stock brokerage business In Wall
street. Even yet It has not been introduced
very extensively, and there are only two orr
three firms which now 60 to the extent Of
giving all their employees q direct share In
the profits of the business. M of these,
however, is one of the largest and most infiu-
entail commission houses on the street. H.
was the house that took the initiative In this
system, and It has proved DO successful In
It's results that other firms have BEEN
emboldened to follow in its Footsteps, The
first dividend was declared by the firm In
question about ten years ago, and 80 quietly
and unobtrusively was the system managed,
that very few outside Of the Office knew of
its existence for many years.
Under this plan q certain fixed Percentage
of the profits of the firm arc set apart ct the
end of every year to be paid out in dividends
to the employees of the house. Not . single
one is neglected, MT every one, from the
head bookkeeper down to the humblsst ONCE
boy in the establishment, receives his pro-
portionate share Of the sum thus set apaxk
It is divided among the various clerks In pro.
portion to the length Of their service IN the
Arm and to the amount of their salaries.
Naturally each ones dividend goes on In
creasing each year, not by o very large
amount, but proportionate to the increased
term OF services, unless II should happen
that the firms profits for that year were very
probably be q slight reduction all around.
In other words the idea Of the dividend sys-
tenn is that each employee has Q share In the
business Of the firm, or, as n OF them ex-
presses y; We each feel Is though GSi we were
and there is naturally q striving on the part
of each one to contribute as much as he oan
personally to increasing the firms busineas,
tor BY 80 doing he y really corrsspondinsly
The experiment, although the system has
been almost too long in operation TO deserve
that term, has shown that clerks to whom -
given an interest in the business in this man
clerical free of q brokers office, and are
more vigilant and watchful Of the interests OF
their employers. Z
There are q number Of offices down In ths
street where they have o custom Of giving
of the year. but this is not q dividend, and
does not imply that the recipient has any
share in the employers business. II 10 sim.
ply u bonus and is called such, consisting
Si% %fsSr O 3 q ci Ss5tAi on P= S=oosRssspsT 81 h saiAi Seen in
the ONCE five or six years under the dividend
system his share OF the employees proAt
grows to quite o substantial figure. For In
stance, II frequently happens IN the ofioe Of
which mention has already. been made thae
where q clerk receives as his regular salary
$500 or 81, 600 a year he will receive . sum In
addition at New YEARS. time, In he shape Of
dividends, which will swell the amount up
to over 81, 600. The uncertainty a. TO how
much, the dividends will amount TO always
furnishes q considerable amount Of excite
ment among the clerks and bookkeepefs, and
not ~infrequently young man of ertravngAnt
habits, who has been banking too heavily on
mSnt when he opens his envelope and 1ads
that for como reason or other tbs proAhs have
fAiled to mRtAriAlixo,